CPU Mining. What Is It and What Is the Benefit of This Kind of Mining?

cpu mining

With the popularity of the cryptocurrency, the interest of people in such activities as mining is growing. However, it should be noted that this is by no means a passive source of income, as it may seem at first glance. In order to succeed in the mining industry, one must have in-depth knowledge, since as in any other field of activity, there are a lot of small nuances that must be taken into account.

If you are interested in this topic, then you already have a certain amount of knowledge and probably heard about the mining of cryptocurrency using video cards and ASICs. Indeed, the articles devoted to these types of mining are plentiful on the Internet. Absolutely the opposite situation awaits for you regarding the topic of mining using processors, the most that you can hear is that it is not quite profitable. In this article we are going to fix this and expand on the topic in detail, find out whether there is any sense in mining on CPU. This article will be useful for beginners and people with an average level of knowledge, experienced miners can hardly find out something fundamentally new here. So let’s begin.

Contents:
(please, click the topic to scroll down to it)

  1. What is CPU mining?
  2. What kinds of mining CPU exist?
  3. What are the ways to mine coins on CPU?
  4. How to choose the right CPU for mining?
  5. Conclusion

1. What is CPU mining?

Generally speaking, the extraction of coins is carried out by solving a huge number of complex mathematical problems by searching all available parameters in order to find a hash with the necessary properties. This process requires a large amount of processing power, that’s why these days mining is carried out on fairly powerful equipment. When the era of cryptocurrency was just beginning, when the number of participants in the network (miners) was small, and the complexity of the system was weak, you could mine on a normal home computer. In our time, the situation has radically changed, and many miners do not even consider CPU as a tool for mining coins. This is quite reasonable when it comes to mining as the main source of income, but if we are talking about a small home enterprise that does not require any additional expenses from a person, then why not? CPU mining is the optimal solution to try mining out and understand whether it is worth doing or not. Of course, if you have a desire to earn impressive amounts, then you should consider more powerful equipment.

2. What kinds of mining CPU exist?

The central processor (CPU) is the main part of a personal computer and any other equipment in general. It is an integrated circuit that acts in the role of the main hardware node of the device. Powerful processors are installed in modern computers, laptops, smartphones, etc. They have a high frequency of operation and consist of several cores.

Such a concept as the best processor for mining simply does not exist. The fact is that the work of each individual CPU is individual. Some processors are better at mining some coins, but others suit better for other coins. Everything depends on the very algorithm of the coin, which is mined. We want to point out that trying to mine Bitcoin on a CPU is not a very good idea, since its algorithm is too complicated for a technique of this rank. However, mining, for example, Zcash, Monero, Litecoin, Dash, etc. using a CPU is quite possible.

The most popular processors are:

  • Intel;
  • Xeon;
  • AMD.

3. What are the ways to mine coins on CPU?

We have already sorted out what is mining, how it is set up and what tools you can use to do it. Now, let’s briefly discuss the existing methods.

  • Personal or solo-mining. In this case, only the computing power of your own equipment is used.
  • Mining pools. Working with a pool means uniting a certain amount of equipment within a single server in order to search for the necessary blocks together. In this case, the system evenly distributes the reward among all members of the pool.
  • Multicurrency pool. This is a server which makes it possible to mine several cryptocurrencies at once. Switching occurs for the most profitable coin automatically.

4. How to choose the right CPU for mining?

The only correct answer to this question does not exist. For example, mining on the i5 processor will be more profitable today for obtaining Monero, and tomorrow it will be more cost-effective to mine Zcash using it. In general, the choice of CPU for mining depends on the huge number of nuances. The only universal indicator is power. The higher it is, the greater the hash rate and, thus, the profit from mining are. Before buying a processor, you need to consider two main indicators:

  • number of cores;
  • clock frequency.

Nowadays the most promising processor for this purpose is CPU Zeon. However, intel core i3/i5/i7 processors for mining are also quite good.

5. Conclusion

CPU mining was very popular at the dawn of cryptocurrency development. In 2009-2011, it was possible to mine Bitcoin using the computing power of a personal computer without any problems. Now the situation is completely opposite. Nowadays using CPU for Bitcoin mining will not only be irrelevant, but also simply unprofitable, as the cost of electricity will exceed the profit from this enterprise. However, some coins (Monero, Litecoin, Dash, ZCash, etc) can still be mined with a profit using CPUs. Anyway, you should not refer to this as the main source of earnings, because the installation of a powerful CPU will not be enough to reach a decent level. In this case it is necessary to buy specialized equipment (video cards or ASICs).

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Binance Will Add Stablecoin USDC To Its Listing

Recently, one of the major crypto exchanges, Binance, has published a notice which says, Binance will open two new pairs for trading on November 17. Interestingly, those two pairs include a new-comer – USDC – stablecoin backed by Circle.

The trading pairs are USDC/BNB and USDC/BTC; the trading starts at 2018/11/17 03:00 AM (UTC). However, users are already able to deposit stablecoin in advance.

Moreover, Binance wrote there would be a “top-ranking auditing firm” to preserve the transparency of the stablecoin. Every month, the firm is bound to provide data of “the corresponding USDC and USD balances held/issued.

We want to remind you, such crypto exchanges as OKEx, Huobi, BitPay, Coinbase have already listed USDC stablecoin on their listings.

Dollar-Pegged Stablecoins Exceeded the Price Point of $1

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Cryptocurrency Prices Today, November 15: Cryptocurrencies Collapsed in Price

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) lost 10.76% over the past 24 hours. The price at the time of writing is $5643 per coin.

Almost all cryptocurrencies absolutely crashed in price:

Bitcoin Cash lost 13.28% over the past 24 hours and costs $447 per coin;

Ripple dropped by 8.94% and is $0.46 in price;

EOS fell by  11.7%, and its price is $4.66;

Litecoin lost 13.45%, and its cost is $42;

Cardano decreased by 14.13%, and its value is $0.061;

Stellar lost 8.24% and is worth $0.23;

IOTA became cheaper by 16.64%, and its cost is $0.48;

Dash dropped by 12.34%, and its price is $142;

Monero decreased by 13.95% and costs $90.

Over the past day, Ethereum lost 12.76%. The cost of the coin is $179.

The total market capitalization dropped significantly to $185 billion. Bitcoin accounts for 53% of the total. In monetary terms, the amount dropped to $98 billion.

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Chinese Miners are Disconnected From the Grid

According to the CNN, due to tax inspection, Chinese establishment have suspended their work.

The Ministry of Public Safety (China) demand that the mining farms,  which are located in the Chinese provinces of Xinjiang and Guizhou, accept the agreement that they will work in accordance with the new, tough rules. The requirements include the denial of services of unregistered  clients.
During the audit,  mining farms were disconnected from the grid, as a result they lost 1 million yuan daily, about 143 700 dollars.

The Tax Inspectorate has already completed the investigation, but the power supply to mining farms still has not been connected.

It should be reminded, we reported earlier that Chinese Middle School Managers were mining Ethereum.

Administartion of Chinese Secondary School Was Mining Ethereum: Details of Crime

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Bank of America Has Officially Patented A System for Saving Crypto Actives for Significant Corporations

One of the major USA banks has been approved the patent for a system of saving crypto assets. The application for the patent describes a method for safekeeping cryptocurrency assets of users of the system. It also stated that the bank will cooperate only with major corporations.

The popularity of using cryptocurrency has turned into a trend that many companies are aiming at. The biggest part of major corporations serves their clients with the help of cryptocurrency. Because of this, there is a need to convert the cryptocurrency into any currency deposit, which has to be placed in a storage.

It is possible to improve the security and safety of deposit funds with the help of single corporate accounts that maintain the cryptocurrency storage.

At the same time, the clients will receive credit funds, the amount of which is equal to the crypto deposit. This concept was introduced by Bank of America.

The patent spelled out a storage system specially designed for the banking system, which processes and stores the secret key. The system is demanding to high throughput of a channel and the amount of calculation capacities.

When required to complete a transaction, the system will provide customers with access to Member’s personal account.

It should be reminded, that previously Bank of America approved the patent for close system private keys, that supports remote management.  

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Linux System Is Affected By A Malicious Crypto Mining Malware: How To Detect It?

Trend Micro, Japanese company specializing in crypto security, published a report on its website stating that they found a malware affecting Linux system.

The company found a cryptocurrency miner KORKERDS’s hidden activity from Linux users extremely suspicious and started investigation, where they found malware, later called as Coinminer.Linux.KORKERDS.AB, and its rootkit component Rootkit.Linux.KORKERDS.AA. The way of infection will be investigated very soon, there is already some information that the malware may get installed onto computer through a plugin or downloaded software. More technical aspects are described in the report.

The company explains:

“This makes it difficult to detect, as infected systems will only indicate performance issues. The malware is also capable of updating and upgrading itself and its configuration file.”

What is worth to mention is that such operating systems as Mac OS and Linux are considered to be immensely secured, thus, it is hard to integrate any file without users’ consent. The malicious mining software seems to be a built-in plugin, where a user gives an administrator consent to install anything.

Trend Micro provided some Indicators of Compromise (IoCs) to prevent users to be affected: (Editor’s Note: Indicator of compromise (IOC) — is an artifact observed on a network or in an operating system that with high confidence indicates a computer intrusion. Typical IOCs are virus signatures and IP addresses, MD5 hashes of malware files or URLs or domain names of botnet command and control servers. Source: https://en.wikipedia.org/ )

Related hashes (SHA-256):

  • cdd921a5de5d5fffc51f8c9140afa9d23f3736e591fce3f2a1b959d02ab4275e (Trojan.Linux.DLOADER.THAOOAAK)
  • baf93d22c9d1ae6954942704928aeeacbf55f22c800501abcdbacfbb3b2ddedf (Coinminer.Linux.KORKERDS.AB)
  • 0179fd8449095ac2968d50c23d37f11498cc7b5b66b94c03b7671109f78e5772 (Coinminer.Linux.KORKERDS.AA)
  • 023c1094fb0e46d13e4b1f81f1b80354daa0762640cb73b5fdf5d35fcc697960 (Rootkit.Linux.KORKERDS.AA)

Related malicious URL:

  • hxxps://monero[.]minerxmr[.]ru/1/1535595427x-1404817712[.]jpg

We want to remind you, no matter how secure your computer is, in your opinion, it still may be affected by professional cryptohackers. Thereby, if you find any suspicious file or plugin, please, read the following article or consult service centre.

What Is Hidden Mining, Why Is It Dangerous and How to Delete the Virus?

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Crypto Master Minds That Made It Into Forbes’s 30 Under 30

One of the most famous editions in the world, Forbes, came out with its annual rating of the most influential people under the age of 30 in different spheres of activity, including healthcare, music, art, retails and many others. This time the section of “finance” was replenished with a couple of blockchain and crypto personalities, namely:

1. JB Rubinovitz (26) is a crypto entrepreneur whose goal is to incorporate crypto mining as a way to provide bails for arrested people.

2. Olaoluwa Osuntokun (25) is one of the founders and a Chief Technical Officer of the company Lightning Labs. He raised $2.5 million to develop Bitcoin as a fully usable means of payment.

3. Hunter Horsley (28) is a CEO of the company Bitwise Asset Management. His firm specializes in creating crypto indexes.

4. Nader Al-Naji (26) and his company Intangible Labs are currently working on a concept of a cryptocurrency that could easily replace the usual banks.

We remind you:

Forbes Launches Its Own Version of the CoinMarketCap

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